Recently, the "Guiding Opinions on Data Asset Valuation" and the "Interim Provisions on the Accounting Treatment of Enterprise Data Resources" have triggered a discussion on the inclusion of data assets in the balance sheet, and the opportunities and challenges brought by it are worth paying attention to.
Data is known as the "oil of the new era", and it has become an important factor of production alongside land, labor, capital and technology, and the related work of data assetization is accelerating. On October 1, the "Guiding Opinions on Data Asset Valuation" formulated by the China Asset Appraisal Association came into effect. The Guiding Opinions effectively address the inconsistent pricing methods of data assets faced by the industry in the past period.
1. Problems such as the difficulty in guaranteeing the fairness of pricing and the asymmetry of transaction information have laid an important foundation for the next step of data assets into the balance sheet. In addition, the Interim Provisions on the Accounting Treatment of Enterprise Data Resources formulated by the Ministry of Finance will come into force on January 1, 2024.
Clarify the data value assessment mechanism
Experts and industry insiders believe that the issuance and implementation of the two policy documents will greatly promote the process of data assetization, stimulate the innovation vitality of data element enterprises, and promote the high-quality development of China's data element market. Zhang Fan, chairman of Inspur Zhuoshu Big Data, believes that the "Guiding Opinions" promote the establishment of a data asset value evaluation mechanism, build a data asset pricing index system, and further clarify the data value assessment specifications. Qiao Qinwang, President of CLP Digital Innovation Research Institute, said that the "Guiding Opinions" have played a positive role in accelerating the formation of a consensus on the value of data assets and the exploration of innovative data assetization paths from all walks of life.
Corporate assets are expected to increase
Wang Jiandong, deputy director of the National Development and Reform Commission's ** Monitoring Center, said that by the end of the "14th Five-Year Plan" period, China's data element circulation market will reach one trillion yuan, which is a huge blue ocean. The "golden key" to open this blue ocean is to establish a closed-loop policy of data registration and confirmation, appraisal and valuation, and asset entry into the table. Liu Xiaoyu, assistant general manager of Shanghai Data Exchange, believes that "data assets are expressed in the table as a new trillion-level asset scale for the country." If it reaches the trillion level at the macro level, there is a huge room for imagination on how to carry out statistical accounting of state-owned enterprises, listed enterprises, and small and medium-sized enterprises at the micro level."
All localities actively innovate and practice to promote the implementation of policies
Under the guidance of a series of policies, all localities are committed to promoting the implementation of relevant work and making corresponding preparations for the inclusion of assets in the balance sheet.
In terms of confirmation of data property rights, Shandong, Zhejiang and other places have introduced data asset registration and data intellectual property registration systems, Shandong and other places have established data asset registration platforms, and Beijing, Shenzhen and other places have built data asset intellectual property registration platforms, which have initially solved the problem of unclear ownership of data assets.
Many data exchanges have carried out multi-dimensional innovation practices, and the Shanghai Data Exchange has released the "Data Element Market Prosperity Plan", which has launched a plan to carry out special incentive funds to promote the circulation of data elements. The Western Digital Trading Center has launched a digital asset (consumption points) platform to integrate enterprise consumption points resources such as clothing, food, housing, transportation, entertainment, shopping, and travel, open up the exchange path of consumption points in retail terminals, and realize the free exchange of individual and enterprise consumption points across platforms, industries, and regions.
On July 11, 2023, the "Data Resource Ownership Certificate", "Data Processing and Use Right Certificate" and "Data Product Operation Right Certificate" (three certificates) created by People's Daily Online and People's Data for the data element market were officially issued nationwide. "Three certificates" is the people's data based on the people's chain BaaS service platform (2After the launch of the country's first data rights confirmation platform in 2019, people's data in accordance with the relevant national policies and regulations and the relevant requirements of the "20 Data Articles", combined with years of practical experience in big data services, through the "three certificates" to build a national data transaction service platform, to solve the lack of unified standards between party and government organs at all levels, the existence of "data islands" between big data exchanges at all levels The phenomenon and the unclear right to hold, use and operate data in the market of data elements.
The entry of data assets into the table brings a huge space for imagination, and related work also faces challenges. Since the value of data is affected by various factors such as time, object, and combination, it may lead to large fluctuations in market data** and increase the risk of participants. Experts suggest that while piloting, we should track and study various phenomena at the same time, so as to form lenient and strict, scientific and rigorous laws and regulations and a healthy business model conducive to the development of the real economy.